Growth worries and politics will let Turkish lira fall
Decisionmakers would rather please Erdogan and shore up growth than back the lira with higher interest rates
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In this article
- Weak lira
- Government response
- Interest rate debate
- Bank raises, then holds
- Policy drivers
- Growth promotion
- Import substitution
- Anti-finance bias
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_350.jpg "A jewellery shop in Istanbul’s Grand Bazaar showing the sign: \"Our sales are in Turkish lira. If you have dollar or euro, come after exchange (Reuters/Murad Sezer)")